Sagarmala Finance Corp to Raise Rs 8,000 Cr

New Delhi, Nov 22 (PTI) Sagarmala Finance Corporation Limited (SMFCL) will raise Rs 8,000 crore in the current financial year from banks, financial institutions and through bonds to further boost the maritime prowess of the nation.

SMFCL, formerly known as Sagarmala Development Company Limited, is India's first maritime sector-specific Non-Banking Financial Company.

It was formally registered as an NBFC with the Reserve Bank of India (RBI) on June 19, 2025.

SMFCL in a statement said in a recently held annual general meeting , the board approved a proposal to raise Rs 8,000 crore in the current financial year. It also approved the overall borrowing limit of Rs 25,000 crore.

"For achieving this SMFCL shall raise the fund from various bank and financial institutions and through bonds in accordance with the resource mobilization plan and start lending operations soon," it said.

The corporation comes under Ministry of Ports, Shipping and Waterways. It aims to bridge the financial gaps in the maritime sector, facilitate investments, and provide sector-focused financial products to port authorities, shipping companies, MSMEs, startups, and maritime educational institutions.